MIKE ASHLEY has broken his silence to reveal he regrets buying Newcastle United.

The United owner also claims that Tyneside businessman Barry Moat must produce £80million if he wants to buy United and says that the Geordie has "drove him mad" for two years.

Ashley was once again the target of Toon fans at Nottingham Forest as the Magpies slipped to a 1-0 defeat at the City Ground with the lack of depth in the squad once again exposed due to injuries to Steven Taylor and Fabricio Coloccini.

However, in a rare interview the under pressure Toon owner said in the Sunday Times: "I have to put £20m a year into the club — I spend more than every other fan put together puts into the club each year.

"If you can’t pay up front to buy the club, you can’t afford it.

"Of course I regret it (buying NUFC). I never said I was an expert in football clubs. I tried my best.

"But I accept my best was woefully short."

Meanwhile Ashley has hinted he is ready to give the job to Chris Hughton on a full-time basis but insists he is in control of the transfers.

He said: "Chris (Hughton) deserves a shot at the title — he has done a great job.

"But if I keep the club I will have the final say on players.

"I am the one who has to fund the club."

Meanwhile talking about Moat's chances of buying United, Ashley said: "Barry Moat has been driving me mad for two years.

" If he wants to buy the club, he has got a one off opportunity to come up with the cash, £80 million up front."